Why career development is a business priority
In the last couple of years, the labour market has been tilted in employees’ favour. Companies deal with recruitment struggles and use incentives like employee referral bonusses. For the short term it’s a great way to recruit new people, because it enlarges the candidate pool, reduces the cost-per-hire and the time to fill the position.
Win the war for talent
But to win the ‘war for talent’ in the long term, companies need to invest in the professional development of their people. What are they looking for and what are opportunities you can offer them? Besides professional growth, the company’s support in balancing work and personal life is key as well.
Make career development a business priority, because otherwise that new employee you attracted with a referral bonus will be gone within 2 years.
This week I start with two new clients who feel at a standstill in their careers and want to create clarity about their best next career move and develop a plan to make it happen.
Invest in professional growth
Their managers (both from different companies) pay for the coaching. They understand that it is important to invest in the professional growth of their team members.
The outcome of the coaching could be that one of them would love to do a job in a different department. Not easy for the manager and the team, but the company as a whole benefits of retaining this talented employee.
Another possible outcome could be that the opportunities don’t match her aspirations and she will leave the company. That’s not ideal for the short term, but the manager’s and company’s image of investing in the growth of people will pay off in the long term.
What are your experiences with the theme of career development in your organization?
Would love to hear from you in the comments!